The online business model is completely new for many auto marketers, and for OEMs to fully adapt to the change and provide a quality user experience, understanding user preferences is a must.
To create an improved retailing environment and consumer experience, manufacturers, lenders and retailers must eliminate the disconnect between what consumers are being quoted online compared to what they are presented with at the store.
Simply put, the data suggests dealers who continued to spend on ad strategies despite lack of vehicle inventory grew their market share, and those who cut their ad spending lost sales.
“It’s just tough,” CARite Auto Group CEO Jeff Bartlett says of a nationwide dealership inventory dearth.
The average new-vehicle monthly auto loan payment reached $609 in the third quarter vs. $565 a year ago, or $553 two years ago, the Experian Automotive report says.
In a WardsAuto Q&A, TrueCar CEO and President Mike Darrow speaks of an ambitious initiative being tested in Florida.